SRCE FY 2022 Earnings Report — 1st Source Corporation Revenue & Financial Results | Market Cap Arena

1st Source CorporationSRCE

FY 2022 Earnings

Reported February 16, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$385M	—	$355M	—	8.5%
Op. Income	$157M	—	$155M	—	1.2%
Gross Margin	88.7%	—	96.1%	—	-7.4pp
Net Margin	31.3%	—	33.4%	—	-2.1pp
EPS (Diluted)	$4.84	—	$4.70	—	3.0%
Free Cash Flow	$173M	—	$164M	—	5.7%

Revenue Flow

Item	Amount
REVENUE	$385M
Cost of Revenue	$44M
GROSS PROFIT	$341M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$109M
SG&A Expenses	$109M
Other Expenses	$76M
Operating Expenses	$185M
Cost & Expenses	$228M
OPERATING INCOME	$157M
Interest Income	$294M
Interest Expense	$30M
Other Income/Expenses	$0
INCOME BEFORE TAX	$157M
Income Tax Expense	$36M
Net Income from Continuing Ops	$121M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$121M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$120M
D&A	$19M
EBIT	$157M
EBITDA	$176M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$385M
Cost of Revenue	$44M
GROSS PROFIT	$341M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$109M
SG&A Expenses	$109M
Other Expenses	$76M
Operating Expenses	$185M
Cost & Expenses	$228M
OPERATING INCOME	$157M
Interest Income	$294M
Interest Expense	$30M
Other Income/Expenses	$0
INCOME BEFORE TAX	$157M
Income Tax Expense	$36M
Net Income from Continuing Ops	$121M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$121M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$120M
D&A	$19M
EBIT	$157M
EBITDA	$176M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$121M
Depreciation & Amortization	$19M
Stock-Based Compensation	$4M
Deferred Income Tax	-$9M
Other Non-Cash Items	$22M
Change in Working Capital	$19M
OPERATING CASH FLOW	$176M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$327M
Sales/Maturities of Investments	$232M
Other Investing Activities	-$687M
NET CASH FROM INVESTING	-$785M
Net Debt Issuance	-$10M
Common Stock Repurchased	-$7M
Common Dividends Paid	-$32M
Other Financing Activities	$256M
NET CASH FROM FINANCING	$207M
FREE CASH FLOW	$173M
Net Change in Cash	-$402M

Balance Sheet

Item	Amount
Cash & Equivalents	$85M
Short-Term Investments	$1.8B
Net Receivables	$380M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.2B
PP&E (Net)	$76M
Goodwill	$84M
Intangible Assets	$40.0K
Long-Term Investments	$5.9B
Tax Assets	$0
Other Non-Current Assets	$38M
TOTAL NON-CURRENT ASSETS	$6.1B
TOTAL ASSETS	$8.3B
Account Payables	$0
Short-Term Debt	$216M
Deferred Revenue	$0
Other Current Liabilities	$6.9B
TOTAL CURRENT LIABILITIES	$7.3B
Long-Term Debt	$87M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$18M
TOTAL NON-CURRENT LIABILITIES	$105M
TOTAL LIABILITIES	$7.4B
Common Stock	$437M
Additional Paid-In Capital	$0
Retained Earnings	$695M
Treasury Stock	-$120M
Accum. Other Comp. Income	-$148M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$864M
Minority Interest	$60M
TOTAL EQUITY	$924M
TOTAL LIABILITIES & EQUITY	$8.3B
Total Debt	$303M
Net Debt	$218M